ISLAMABAD: Federal Board of Revenue (FBR) has warned individuals, who are return filers, against harsh action for providing incorrect information of taxable income.
The FBR on Tuesday said that it had acquired vital information about the income and expenditure of filers and non-filers.
The revenue board advised return filers to visit the official information portal to view details of undeclared income and assets details available with the database of the FBR.
The FBR also advised the return filers to correct their information before any action under the law was initiated against individuals for hiding taxable income.
The FBR said that income tax return filing is mandatory to those persons who had obtained National Tax Number (NTN). Therefore, such persons should file their returns to avoid penal action.
The FBR asked unregistered paying withholding tax should also apply for registration and file their income tax return.
It is important to note that the last date for filing income tax returns for the tax year 2020 is December 08, 2020. The date was already extended by the FBR from September 30, 2020.
The FBR made it clear that no further extension would be granted beyond December 08, 2020.
